The different points on a cost curve represent alternative production possibilities in the same time period.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The quantity of money demanded will decrease if the
A) nominal interest rate decreases. B) price level rises. C) real interest rate decreases. D) inflation rate decreases. E) nominal interest rate increases.
Medical service by physicians
A) could be made a free good through universal health insurance. B) is a good for which the demand is completely inelastic. C) is a good for which there is no satisfactory substitute. D) would become a free good if physicians did not charge monetary fees. E) would cost some patients more in non-monetary terms than they now pay if physicians did not charge monetary fees.
Describe the alternative methods of allocating scarce resources
What will be an ideal response?
A division of a firm is
a. a logical sub-organization of the firm b. a level within the firm in which a large degree of autonomy is vested c. a level of hierarchy within a firm that defines the scope of a manager d. all of the above